Maryland SB607 modifies the income tax subtraction for public safety retirement income, increasing the exempt amount over several years.

Maryland SB607 modifies the income tax subtraction for public safety retirement income. It allows a subtraction modification for certain retirement income attributable to public safety employees. The bill phases in an increase in the exempt amount from $15,000 to $20,000 over several years, starting from taxable years beginning after December 31, 2025. This change affects retirees who were employed as correctional officers, law enforcement officers, or emergency services personnel.

Maryland SB607 modifies the income tax subtraction for public safety retirement income, increasing the exempt amount over several years.

Maryland SB607 modifies the income tax subtraction for public safety retirement income. It allows a subtraction modification for certain retirement income attributable to public safety employees. The bill phases in an increase in the exempt amount from $15,000 to $20,000 over several years, starting from taxable years beginning after December 31, 2025. This change affects retirees who were employed as correctional officers, law enforcement officers, or emergency services personnel.